House Rent for Parents

I am married and currently staying with my parents. Since my father is retires, my earnings & contributions are the only source of income. Can a part of my monthly contribution given to my parents, be considered as 'Rent', and thus be claimed for tax exemptions.

I had read that Govt of India recognizes such transactions between Father & Children as legal business transactions but not between Husband & Wife.

asked Dec 29 '12 at 08:03 by mdoomar 1●3●6

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If house is in your father's name, then you can give him monthly rent and HRA exemption for same.

There is no issue in giving rent to father or mother.

answered Dec 29 '12 at 09:28 by Pankaj Batra 5.2k●3●20

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residential-property ×80
house-rent-allowance ×65
hra-exemption ×39
rent-to-father ×2

Asked: Dec 29 '12 at 08:03

Seen: 1,720 times

Last updated: Dec 29 '12 at 09:28

House Rent for Parents

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